A promissory note is - Study guides, Class notes & Summaries

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2024|2025 INTUIT BOOKKEEPING LATEST EXAM | QUESTIONS WITH CORRECT ANSWERS Popular
  • 2024|2025 INTUIT BOOKKEEPING LATEST EXAM | QUESTIONS WITH CORRECT ANSWERS

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  • 2024|2025 INTUIT BOOKKEEPING LATEST EXAM | QUESTIONS WITH CORRECT ANSWERS When choosing between two solutions, the one that will be least likely to overstate assets and income should be selected. Correct Answer: Conservatism Assumption States that an amount can be ignored if its effect on the financial statements is small and not misleading Correct Answer: Materiality Principle Once you adopt an accounting principle or method, continue to follow it consistently in future accounting peri...
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California: Real Estate Principles Practice Exam 1 - Salesperson License Popular
  • California: Real Estate Principles Practice Exam 1 - Salesperson License

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  • California: Real Estate Principles Practice Exam 1 - Salesperson License/ Q&A. 6 of 50 - What are the parts of a mortgage loan? What purpose does each part serve? A. A Pledge and Collateral. A Pledge is a promise to pay; and Collateral allows a lender the right to foreclose if the borrower does not pay. B. A Promissory Note, a Deed of Trust, and Collateral. A Promissory Note is an I.O.U. to pay; a Deed of Trust secures the interest in a borrower's real property; and Collateral allows a ...
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Champions Real Estate Finance Exam (2024/ 2025) 100% Correct Questions and Verified Answers| Grade A
  • Champions Real Estate Finance Exam (2024/ 2025) 100% Correct Questions and Verified Answers| Grade A

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  • Champions Real Estate Finance Exam (2024/ 2025) 100% Correct Questions and Verified Answers| Grade A Q: The money that mortgage companies use to make loans come from the sale of ________, which is considered a business transaction, not a savings account deposit procedure. Answer: Bonds Q: Government entities regularly sell bonds to Answer: Fund major capital investments Q: Advantage of municipal bonds is Answer: That the interest paid to investors is not subj...
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Superior NC Real Estate Important Final Exam Questions and Answers
  • Superior NC Real Estate Important Final Exam Questions and Answers

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  • Superior NC Real Estate Important Final Exam Questions and Answers RESPA -Answer--Real Estate Settlement Procedures Act: applies ONLY to 1-4 family residential transactions, transactions involving a "federally related" mortgage (conventional, FHA, VA) Which party's signature is required on a deed of trust? A. the trustee B. the beneficiary C. the trustor(s) D. the grantee(s) -Answer-C. the trustor(s) The trustor is the borrower in a lending situation using a trust deed. The borrower...
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Gold Coast Final Exam 2023 Questions and Answers (Graded A)
  • Gold Coast Final Exam 2023 Questions and Answers (Graded A)

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  • Gold Coast Final Exam 2023 Questions and Answers (Graded A) What is the form you sign that says you will pay the loan back ? - ANSWER promissory note What is the post licensing grace period after first expiration ? - ANSWER none Deposits is a form of... - ANSWER valuable consideration Physical land and improvements - ANSWER real property Is it a violation if a sales associate work for two brokers Monday-Friday, and Saturday and Sunday and getting paid commission from both - ANSWER...
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45-HOUR PA FIRST TEST QUESTIONS
  • 45-HOUR PA FIRST TEST QUESTIONS

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  • Price is a number that quantifies: cost. rate. value. estimation. - Answer- value. 1. Comparable properties should include similar properties that have sold within: the past 2 to 4 weeks. the past 1 to 2 months. the past 6 to 12 weeks. the past 3 to 6 months. - Answer- the past 3 to 6 months. 1. Items found during the walk-through are most easily handled by: a) a promissory note. b) giving credit to the buyer. c) an addendum d) an exchange of cash. - Answer- d) an exchang...
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Gold Coast Final Exam 2024 Questions and Answers 100% Correct
  • Gold Coast Final Exam 2024 Questions and Answers 100% Correct

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  • What is the form you sign that says you will pay the loan back ? - promissory note What is the post licensing grace period after first expiration ? - none Deposits is a form of... - valuable consideration Physical land and improvements - real property Is it a violation if a sales associate work for two brokers Monday-Friday, and Saturday and Sunday and getting paid commission from both - Yes What is the maximum fine per offense ? - $5,000 per fine Out of state broker sends a customer, and ...
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California Legal Aspects of Real Estate Final Exam (Already Graded with a pass rate of 97%)
  • California Legal Aspects of Real Estate Final Exam (Already Graded with a pass rate of 97%)

  • Exam (elaborations) • 25 pages • 2023
  • California Legal Aspects of Real Estate Final Exam (Already Graded with a pass rate of 97%) California Legal Aspects of Real Estate Final Exam (Already Graded with a pass rate of 97%) A promissory note is: a. evidence of the debt b. evidence of a sale c. a security interest in the property for the lender d. the same as a mortgage or trust deed a. evidence of the debt In order to be considered an emancipated minor and have the capacity to contract, a minor must: a. be married, widow...
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Principles of Real Estate 2 Champion Exam With 100% Correct Answers 2024
  • Principles of Real Estate 2 Champion Exam With 100% Correct Answers 2024

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  • Principles of Real Estate 2 Champion Exam With 100% Correct Answers 2024 What does D.U.S.T. stand for? - answerDemand, Utility, Scarcity, Transferability the percentage of value or sales price that a lender is willing to finance - answerLoan to Value Ratio (LTV) the value of a property is equal to the sum of the contributory value of each of its component parts. - answerprinciple of contribution the forces acting on a parcel of land are always affecting the value of the land - answerPRIN...
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COLORADO EXAM REAL ESTATE STATE PORTION QUESTIONS  AND ANSWERS, GRADED A+/ VERIFIED.| latest update 2024/25|
  • COLORADO EXAM REAL ESTATE STATE PORTION QUESTIONS AND ANSWERS, GRADED A+/ VERIFIED.| latest update 2024/25|

  • Exam (elaborations) • 14 pages • 2024
  • COLORADO EXAM REAL ESTATE STATE PORTION QUESTIONS AND ANSWERS, GRADED A+/ VERIFIED. When must earnest money be deposited? Not later than the third business day after notice to buyer of acceptance. When a real estate broker is preparing a contract for the sale of real estate in respect of when a building permit was issued prior to January 1, 1978, the agreement will be: Void unless a completed Lead-Based Paint Disclosure is completed and signed by both the licensees to the transaction a...
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